Prepaid card portfolios may be monitored for suspect buyers and cardholders. For example, a set of configurable parameters comprising limits and thresholds provide the system with a set of rules that are used to signal the possibility of fraudulent transactions. The parameters are run against a set of prepaid card production data including for example, card holder enrollment data, funding account data, issuance data (e.g., proper address) and usage or transaction data. Any number of variables, such as for example, an incomplete or blank address, an invalid address, no match to a name and an address, etc., may trigger one or more of the fraud parameters to yield a number of suspected fraud cases. When a possible instance of fraud is detected, a fraud case may be created, which may then be assigned to a fraud analyst for further investigation, and eventual disposition.
Although a particular set of fraud parameters may produce a set of suspected fraud cases, there may be times where an Issuer or Processor would like to adjust or tweak the thresholds and limits within the parameters and/or turn parameters on or off within the system to yield a different set of suspected fraud cases. However, application of different parameters may result in a large number of suspected cases and overwhelm the fraud management system, or may result in a large number of negative fraud cases, wherein time and resources may be wasted during investigation. There is no current method to compare parameters as applied to certain data to optimize a parameter platform prior to implementation.
Accordingly, as recognized by the present inventor, what is needed is a system and method for tracking how a change in the fraud parameters would affect the fraud cases that would result without having to actually move the new parameters into production.
It is against this background that various embodiments herein were developed.